CoinMama Review - Why Crypto Enthusiasts Love It?
Coinmama, an Israeli bitcoin dealer, is available. They offer bitcoins to credit card holders.
You've reached the right place if you want to find out if Coinmama the best exchange for you.
We cover everything, from payments to sponsored countries to buying your first bitcoin.
To determine if Coinmama is truly the best bitcoin broker, we'll be reviewing multiple aspects.
You'll find answers to some frequently asked questions about Coinmama, and selling bitcoins generally at the end.
Most importantly, I will show you how I built my internet marketing business to more than $40,000 per month mostly passively.
I swear by crypto trading for good because it uses the same skills but in a more powerful and lucrative way.
Coinmama Review: Background
Coinmama was established in 2013. It is one of the most popular cryptocurrency sites in blockchain technology. It allows you to pay using multiple payment methods, and has high spending limits.
New Bit Ventures, LLC manages their US activities. FINCEN regulates them.
Coinmama is a well-established company with a majority of their clients being European.
Coinmama does not allow you to exchange cryptocurrencies. It is a platform that allows you to purchase cryptocurrencies with US dollars, including Bitcoin, Etheruem and Cardano.
Coinmama allows you to "buy and trade" these cryptocurrencies but not for trading.
Coinmama owns its own cryptocurrency inventory. All transactions will be made between Coinmama, you and the vendor.
On the Coinmama platform, you can also sell cryptocurrency.
The payout can only be made via a SEPA bank transfer and is available to European customers.
Coinmama can be compared to other exchanges.
- Available in almost all countries
- Maximum limit for purchasing bitcoins using a credit card
- Reliable and trustworthy broker
Coinmama: Who can use it?
You must first evaluate and verify whether a cryptocurrency exchange is possible to use.
Due to local regulations and cryptocurrency laws, some or all Coinmama programs might not be available.
However, Coinmama is easily accessible throughout Europe.
Coinmama is open to all cryptocurrency traders, provided that they do not reside in any of the US states or territories listed below.
- North Korea
- Palestinian Territories
- South Sudan
Here are the American states that cannot use Coinmama.
- New Mexico
Here are the American territories which cannot use Coinmama.
- American Samoa
- Northern Mariana Islands
- Puerto Rico
- United States Minor Outlying Islands
- Virgin Islands
It is easy to buy cryptocurrency on Coinmama.
The first step is to determine how much money you are willing to spend on purchases. Then, Coinmama will provide you with a quote.
Coinmama calculates fees as a percentage from the spot price.
Their commission rate is 3.9 percent when you use SEPA bank transactions.
They charge a 5% "momentum" fee if you pay with your credit card.
For any payment exceeding =$1,000 USD, a minimum of PS20 will be charged by SWIFT
Coinmama users will pay approximately 5%
For example, if one bitcoin was worth $10k at the moment, it would cost $10.5k to purchase it on Coinmama.
I think that this is a steep price to pay. Bitcoin must increase beyond $10,500 in order to see a return.
Coinbase and other trading sites usually charge less than 5 percent.
However, their payments can vary depending on which payment method they are made.
These digital currencies can be purchased on the Coinmama platform:
- Bitcoin (BTC).
- Bitcoin Cash (BCH).
- Ethereum (ETH).
- Ethereum (ETC).
- Cardano (ADA)
- Litecoin (LTC).
- Tezos (XTZ)
Coinmama no longer offers the following: QTUM (XRP), ripple (XRP), or EOS.
Coinmama accepts any fiat currency via bank transfer. Coinmama, a Euro-centric website, displays prices in the following currencies:
Coinmama supports Apple Pay, Faster Payments and Apple Pay.
You can also use the Coinmama wallet address to deposit digital currencies. This allows you to sell cryptocurrencies.
Buy With A Credit Card
Coinmama is well-known for accepting Bitcoin credit card transactions.
Coinmama charges a 5% "momentum fee" for purchases made with credit cards or debit cards. This fee is higher than other bitcoin purchases made with credit cards.
Limits on Buying
- $15k maximum lifetime buy
- Limit $5kd Daily Credit Card Purchase
- Limit of $12k per bank transfer
- Maximum lifetime purchase at $50k
- Limit $5k per day on credit cards
- $30k daily wire transfer limit
- $1M maximum lifetime buy
- Limit of $7.5k per day on credit cards
- $30k daily limit on bank transfer purchases
Coinmama requires a minimum purchase of $50 USD
Coinmama has a KYC requirements
You must follow a verification process if you wish to buy on their website.
- Create your Coinmama account.
- You will need a copy of your government ID, such as a passport, driver's licence, or other valid IDs. Sometimes, they may ask for a copy your utility bill.
- Take a photo.
This verification procedure is a standard KYC procedure, which most exchanges now implement.
How long does Coinmama verification take?
The verification process at Coinmama ranks among the fastest in the industry. It takes approximately 10 minutes to verify your Coinmama Account. It may take several days for some people.
It all depends on how busy the verification team is. It would take them longer to verify your account if they were busy.
Others might take between 1 and 3 business days.
It takes on average six hours to complete Levels 2 and 3, which is still quite fast.
The security record for Coinmama seems a little strange. Their platform has not been the victim of any cryptocurrency theft.
Unfortunately, however, thousands of Coinmama customers' personal information were stolen. This unfortunate incident occurred in 2019, where 450,000 accounts were affected.
Unfortunately, the credit card information was not hacked.
This was only one of 20 hacks of websites and millions of records.
Coinmama delivers BTC directly to your wallet, so hacking does not necessarily mean that user funds are lost.
A hardware wallet like Trezor Model T, or Ledger NanoX is a smart way to keep your crypto safe.
Ledger Nano X
- Screen: Yes
- Published: 2019
- Price: $119
Ledger Nano S
- Screen: Yes
- Published: 2016
- Price: $59
- Screen: Yes
- Published: 2018
- Price: $159
- Screen: Yes
- Publication: 2013
- Price: $59
Coinmama Customer Support
Coinmama relies on email to provide customer support. They do not have a physical address or phone number.
Coinmama Loyalty Programme
It's a good idea to join Coinmama's loyalty program if you intend to frequent Coinmama. Coinmama charges lower commissions and offers bonuses.
This program has 3 levels:
1. Crypto Curious
Level 1 is reserved for new users. There are currently no discounts.
2. Crypto Enthusiasts
Level 2 is reserved for people who spend $5k or more on a regular basis within a 90-day time frame. If you're on this level, you can save 12.5% on transaction costs.
Level 3: Purchases of $18k and more in less than 90 days. They get 25% off fees
Additionally, users who spend more than $50k on a purchase will become Crypto Believers for life.
Bitpanda is a bitcoin broker in Austria. They offer multiple payment options and have very competitive prices.
CEX.IO allows you to buy bitcoins for low fees with your credit card. Purchases are free if you choose bank transfers
It is operated by Coinbase, a San Francisco-based company, since 2015. It supports Litecoin and Bitcoin trading.
Coinbase is the most popular Bitcoin broker in the globe and is now widely available in over 55 countries.
eToro, a trading platform that is available in almost all countries, supports Ethereum, Bitcoin and Zcash as well as other coins.
Kraken was founded in 2011 and offers margin trading and futures contract.
What is Bitcoin?
Bitcoin is a digital currency that allows the creation of modern payment mechanisms based on the use bitcoin. Its operation is managed entirely by its users, who use a peer to peer technology. Bitcoin is basically cash for the Internet, from the perspective of a customer.
What is the time it takes for Coinmama to send my Bitcoins once I have paid?
After confirmation of payment and wallet address, coins will be sent to you within one hour.
Why do I need to provide my personal details?
Coinmama is a financial provider and is committed to protecting the privacy of its users. This helps them to protect your account and combat theft, among other things. This process is called verification and everyone must follow it before they can buy cryptocurrencies anywhere. Coinmama will verify your information and usually takes around an hour.
What is a Cryptocurrency Exchange?
A cryptocurrency exchange allows you to trade digital currencies such as Bitcoin, Ethereum, or any other digital currency for fiat, paper, or other currencies. Coinmama allows you to exchange your fiat money, such as dollars and euros, for a wide range of cryptocurrencies. You can also exchange Bitcoin for fiat currency.
What if I want to buy more or less coins than the amounts offered?
Coinmama offers a free-fill option to purchase coins in any amount you choose.
What Virtual Currencies Can You Buy?
Coinmama offers the following products: Bitcoin, Litecoin and Ethereum. Other cryptocurrencies are in development.
Where can I get a Bitcoin/ Ethereum wallet?
Coinmama doesn't provide your wallet. It can be obtained elsewhere. They can only send the coins to your preferred bank account. The app is not available for mobile.
Coinmama facilitates trades between buyers and sellers
Coinmama doesn't do this. Coinmama sells from their inventory.
What Currencies Does Coinmama Accept
Coinmama accepts any currency. Their prices are shown in USD, EUR and GBP. You should also remember that most banks will charge an exchange fee if you choose to pay in a different currency.
Coinmama allows me to sell bitcoins
Yes. Yes. You can sell your Bitcoins on Coinmama. You can choose between USD or EUR and receive it directly to your bank account.
Coinmama Reviews: Conclusion
Coinmama is a niche within the cryptocurrency industry.
It is a portal that allows you to buy and sell cryptocurrencies.
If you are looking for an easy-to use platform with excellent customer support, Coinmama might be the right choice.
They have been in business for ten year and are therefore highly credible.
Coinmama is a non-custodial website, which is a distinction that is most notable. They do not store customers' cryptocurrency.
Coinmama can be found all over the world.
If you are not in a restricted area, sign up now!
Opening an account is a good idea, even if you don’t intend to purchase Bitcoin immediately.
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Our review team discovered a program that is top-notch in the real estate industry!
It's digital, but not real estate.
The only area where Coinmama is lacking is in scalability.
You have a limited amount of time and money to spend on a project.
It's obvious that cryptocurrency is not for everyone.
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What are the best ways to get paid?
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Based on the industry, a fair price per lead is between 10-20 %... let's take the tree service industry as an example and use the worst-case scenario.
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It's digital real estate, which is why they call it now. This is a rent payment.
It is easy to scale. There is no need to be concerned about the market volatility and constant fluctuations that cryptocurrency can bring.
Coinmama is a great place to start.
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After the training program is complete, you will have access to a Facebook Group that we think is better than the Coinmama one. This group is more active.
Coinmama is a trading platform that only makes $10 per trade. You could be making 10-20x the profit.
Businesses will always need more leads and more jobs. It doesn't matter if the job isn’t coming from their website. They see it as it is...expanding their digital real estate.
Coinmama is not like that. More people are able to leave their 9-5 jobs.
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You probably have a lot of questions.